Tema Etfs LLC Purchases 22,798 Shares of IDACORP, Inc. $IDA

Tema Etfs LLC increased its position in shares of IDACORP, Inc. (NYSE:IDA) by 118.6% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 42,028 shares of the energy company’s stock after purchasing an additional 22,798 shares during the period. Tema Etfs LLC’s holdings in IDACORP were worth $5,554,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Teacher Retirement System of Texas raised its stake in shares of IDACORP by 21.6% during the 2nd quarter. Teacher Retirement System of Texas now owns 10,318 shares of the energy company’s stock worth $1,191,000 after acquiring an additional 1,834 shares in the last quarter. Advisors Asset Management Inc. grew its holdings in IDACORP by 26.0% in the second quarter. Advisors Asset Management Inc. now owns 10,558 shares of the energy company’s stock worth $1,219,000 after purchasing an additional 2,178 shares during the last quarter. Bahl & Gaynor Inc. acquired a new position in shares of IDACORP during the second quarter worth $577,000. Envestnet Asset Management Inc. lifted its holdings in shares of IDACORP by 8.2% during the 2nd quarter. Envestnet Asset Management Inc. now owns 185,762 shares of the energy company’s stock valued at $21,446,000 after purchasing an additional 14,145 shares during the last quarter. Finally, Entropy Technologies LP purchased a new stake in shares of IDACORP during the 2nd quarter valued at $653,000. 89.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

IDA has been the topic of several research analyst reports. BTIG Research upgraded IDACORP to a “strong-buy” rating in a research note on Wednesday, October 22nd. UBS Group dropped their price target on IDACORP from $135.00 to $129.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 17th. Wall Street Zen lowered shares of IDACORP from a “hold” rating to a “sell” rating in a research report on Saturday. Mizuho lifted their target price on shares of IDACORP from $129.00 to $144.00 and gave the stock an “outperform” rating in a research note on Monday, October 27th. Finally, Wells Fargo & Company upgraded shares of IDACORP to a “hold” rating in a research note on Tuesday, October 28th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $137.88.

IDACORP Price Performance

Shares of NYSE:IDA opened at $128.07 on Monday. IDACORP, Inc. has a twelve month low of $104.74 and a twelve month high of $138.03. The company has a current ratio of 1.09, a quick ratio of 0.82 and a debt-to-equity ratio of 0.95. The company has a market cap of $6.92 billion, a PE ratio of 22.01, a price-to-earnings-growth ratio of 2.49 and a beta of 0.61. The company’s 50 day moving average is $127.77 and its 200 day moving average is $126.68.

IDACORP (NYSE:IDA) last released its quarterly earnings data on Thursday, October 30th. The energy company reported $2.26 EPS for the quarter, beating the consensus estimate of $2.23 by $0.03. IDACORP had a net margin of 17.59% and a return on equity of 9.35%. The business had revenue of $524.42 million for the quarter, compared to the consensus estimate of $663.09 million. During the same period in the prior year, the firm earned $2.12 EPS. IDACORP has set its FY 2025 guidance at 5.800-5.900 EPS. On average, sell-side analysts forecast that IDACORP, Inc. will post 5.81 EPS for the current year.

IDACORP Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 1st. Shareholders of record on Wednesday, November 5th were paid a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date was Wednesday, November 5th. This is an increase from IDACORP’s previous quarterly dividend of $0.86. IDACORP’s dividend payout ratio (DPR) is 60.48%.

IDACORP Company Profile

IDACORP, Inc is a diversified energy holding company headquartered in Boise, Idaho, whose primary subsidiary, Idaho Power Company, operates as a regulated electric utility. Through Idaho Power, the company provides generation, transmission and distribution services to residential, commercial and industrial customers. The company’s service territory spans southern Idaho and eastern Oregon, where it serves over half a million customers with a mix of hydroelectric, natural gas, wind and solar generation assets.

Idaho Power’s generation portfolio is anchored by a network of hydroelectric facilities along the Snake River system, complemented by natural-gas-fired plants and growing investments in renewable resources.